The IC-DISC Show David Spray

In today's episode of the IC-DISC show, Eric Miller from the Export-Import Bank of the United States (EX-IM) provides valuable insights into how this 90-year-old institution supports American exporters through strategic financial services. I also learned that EX-IM is one of just two governmental agencies that is an actual profit center.
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Before joining EX-IM, Eric worked for a privately-held exporter that was a customer of EX-IM. His expertise both inside and outside of EX-IM sheds light on crucial products like export credit insurance, export financing, and financing for foreign buyers. These solutions can alleviate common hurdles inhibiting international trade growth.
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We also talk through some real-world examples of these various EXIM solutions. This is a must-listen episode for any company doing substantial direct exports.










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SHOW HIGHLIGHTS




Eric Miller from the Export-Import Bank of the United States (Ex-Im Bank) discusses the role of the bank in aiding exporting companies with financial services, operating without costing taxpayers.
We delve into how Ex-Im Bank and the Small Business Administration (SBA) offer loan guarantees and insurance to boost companies' borrowing capacity.
Eric shares insights into export credit insurance and how Ex-Im Bank's products can help resolve common financial challenges in international transactions.
The discussion covers Ex-Im Bank's new domestic project finance product, designed to support projects that have a significant export component.
We touch on the requirement for a U.S. majority in product content, aiming to foster manufacturing and job growth in the United States.
Eric explains the importance of services, like engineering and architectural services for foreign projects, requiring a U.S. majority for cost.
We discuss government resources that can aid businesses in exporting, such as tax incentives and the Gold Key service provided by the U.S. Commercial Services.
The episode highlights the STEP grant, a federal program managed by states to support companies with export-related expenses.
Eric and I settle the Tex-Mex vs. BBQ debate with an appreciation for both, adding a lighthearted twist to the episode.
Contact information for Eric Miller is shared for listeners who wish to connect and further explore export financing options.


Contact Details
[Email]
(eric.miller@xmexim.gov)
[Phone Number]
(713-306-7969)





LINKSShow Notes

Be a Guest


About IC-DISC Alliance

About Export-Import Bank of the United States






GUEST



Eric MillerAbout Eric






TRANSCRIPT


(AI transcript provided as supporting material and may contain errors)



Dave: Hi, this is David Spray. Welcome to another episode of the IC Disc Show. My guest today is Eric Miller of the Export-Import Bank of the United States, colloquially known by the acronym of XM. More useful takeaways for privately held exporting companies than any guest I've ever had. We talked about the history of the XM, its purpose and the four service offerings that they have for privately held exporting businesses. We also talked about three other governmental arms that can also be of value. The other interesting thing about Eric is he actually was a customer of XM early in his career when he was a minority owner of an exporting business. So Eric's a really dynamic guy. He's really passionate about serving exporting companies and he really understands what it's like to be in the shoes of their customers.


I really recommend you take a listen to this one. It's really valuable hey good morning Eric. Welcome to the podcast.


Eric: Thank you, Dave. It's a pleasure to be here. It's an honor. Thank you.


Dave: Well, the pleasure is all mine. So where are you connecting from today? What part of the world are you in at the moment?


Eric: The great state of Texas. I'm in the Houston area, born and raised in Texas and been all over the world, but this is home. Oh, that's awesome.


Dave

In today's episode of the IC-DISC show, I sit down with Dan Corredor, the owner of Strategic CFO, to discuss how his firm is revolutionizing the accounting landscape through near-shoring in Mexico. We explore Dan's journey starting in Colombia and arriving in Houston, where his bilingual skills have helped Strategic CFO carveout a unique niche.


Our conversation reveals how Strategic CFO blends accounting expertise with innovative strategies to strengthen businesses from the inside out. Through insights on US GAAP, technology, and building capable teams, Dan shows us why accounting is about more than compliance - it's about fostering strategic growth.


Near the end, Dan offers us personal anecdotes about cultivating early savings habits and his culinary interests. Our discussion provides a blueprint for navigating accounting challenges with an international perspective and strategic foresight to propel businesses higher.










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SHOW HIGHLIGHTS




Dan Corredor's firm, Strategic CFO, is leading a cost-saving revolution by near-shoring back-office accounting services to Mexico, significantly reducing costs compared to traditional US-based services.
Strategic CFO was acquired by Dan Corridor in 2017 after the passing of founder Jim Wilkinson, and Dan has continued to evolve the company while maintaining its legacy.
We discuss the importance of differentiating between bookkeeping and accounting, where bookkeeping involves recording transactions and accounting involves analyzing and interpreting financial data according to US GAAP.
We highlight how an effective accounting team can steer companies beyond outdated systems, and how technology is transforming financial statement preparation.
Dan emphasizes the symbiotic client relationships that result from a combination of coachability and strategic foresight in financial matters.
There's a discussion about the challenges in the US accounting landscape, including talent shortages and wage inflation, and how near-sourcing with Mexican talent offers a solution.
The near-sourcing model involves Mexican employees supervised by Texas-based controllers, ensuring quality control while offering CFO-level support to US companies.
We touch upon the personal side of Dan Corridor's journey, including the importance of early financial savings and sharing personal culinary favorites, to connect with the audience.
Strategic CFO brings a unique international perspective to each client they serve, emphasizing their hands-on approach and operational expertise.
We wrap up with anecdotes and stories that provide insight into the practical application of financial strategies and how companies can scale efficiently with the right accounting support.





LINKSShow Notes

Be a Guest


About IC-DISC Alliance

About Strategic CFO





GUEST



Dan CorredorAbout Dan






TRANSCRIPT


(AI transcript provided as supporting material and may contain errors)



Dave: Hi, my name is David Spray. Welcome to another episode of the IC-DISC Show. Today, my guest is Dan Corredor, the owner of Strategic CFO. Strategic CFO is like many virtual CFO service companies, except that Strategic CFO has an interesting twist that they implemented a little over a year ago. They use what Dan calls near-shoring similar to offshoring, but done in Mexico, where it is very near, and we go into great detail about how they have developed a model that allows for providing professional grade back office accounting for 60% less than a traditional US-sourced solution. There's a lot of great ideas in here, whether you're looking at developing a professionalized accounting group or not. I hope you enjoy this episode as much as I did. Good morning, Dan. Welcome to the podcast.


Dan: Good morning David. Thanks for having me. My pleasure, my pleasure.


Dave: So where are you calling in from today? What part of the world are you in?


Dan: So we are in Shurgland, texas, which is a suburb of Houston, houston, gotcha.


Da

Today on the IC-DISC show, join us for an insightful discussion with Laurie Barkman, a renowned CEO and author of The Business Transition Handbook. As the acclaimed Business Transition Sherpa, Laurie sheds light on the reality that all business owners will exit someday.


We explore the challenges of selling a business, like why most small businesses don't sell successfully and the potential pitfalls of an exit.


We also discuss relying on experienced advisors and how understanding taxes and markets can aid planning. Laurie shares invaluable advice on navigating this critical phase successfully.


This episode is a must-listen for any business owner planning to navigate their business transition.








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SHOW HIGHLIGHTS



Laurie and I discuss her journey as a CEO and author of The Business Transition Handbook, providing insights into the realities of business transition.
She highlights the hard truth of selling a business and how eight out of ten small businesses fail to do so successfully.
We talk about the common pitfalls of business transition, the five "D's" that can disrupt a business, and the value of creating a satisfied client base.
Laurie explains the unique challenges law firms face during business transition and offers her strategies for a smooth transition.
We delve into the importance of a clear exit plan and the different options business owners have when transitioning their business.
Laurie advises focusing on three primary goals during business transition: business, personal, and financial.
We discuss the analogy of business transition planning to having a sherpa guide you through a treacherous terrain, making the process seem less daunting.
Laurie emphasizes the significance of accountability in business and the benefits of having industry expert conversations during transition.
We explore the upcoming online course based on Laurie's book that she plans to launch in the first quarter of 2024, aiming to reach a wider audience of entrepreneurs.
We discuss the importance of having an experienced network of professionals to help businesses reach their goals and create a successful transition plan.





LINKSShow Notes

Be a Guest


About IC-DISC Alliance

About The Business Transition Sherpa

About The Endgame Entrepreneurship Course




GUEST



Laurie BarkmanAbout Laurie






TRANSCRIPT


(AI transcript provided as supporting material and may contain errors)



David: Hi, this is David Spray. Welcome to another episode of the IC Disc Show. My guest today is Laurie Barkman from Pittsburgh. Laurie is a really fun and interesting guest. She just released her first book entitled the Business Transition Handbook, and she is called in many circles the business transition, the idea being that a Sherpa guides somebody on a journey over a period of time rather than just a one-point event in time. Laurie has an impressive background as a former CEO of a large privately held company. She has a bachelor's and an MBA, and we talked about mistakes business owners make when they're transitioning their business. We talked about the sober reality that 100% every last business owner is going to exit their business and the question is will it be on their terms or someone else's? So there is some great advice and information for any company, any business owner who is looking to exit their business at some point, and I think you'll get a lot of value from this. Good morning, laurie. How are you today?


Laurie: David, hey, great to see you, I'm awesome.


David: That is great. Now, where are you located today?


Laurie: I'm in the great city of Pittsburgh, Pennsylvania.


David: Yes, now are you a native of Pittsburgh.


Laurie: I am not. I am not. I'm an adopted daughter of the city. I'm originally from Albany, New York.


David: Okay, so Ithaca wasn't too far to go for you.


Laurie: That's right, it was not. It was only about three hours away.


David: Okay, and then what brought you to Pittsburgh?


Laurie

In today's episode of the IC-DISC show, I have a captivating discussion with Carolyn Turner from the Alabama International Trade Center. We uncover fascinating details about Alabama's economic progress and the pivotal role of the Small Business Development Center (SBDC) in boosting job growth and new businesses.


Carolyn shares inspiring success stories of SBDC clients who utilized free services to export goods successfully. I also learned more about the SBDC's impactful support for small businesses through cost-free assistance.


We wrap it up by exploring how SBDC teams in Texas and Colorado foster business growth.


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SHOW HIGHLIGHTS



Carolyn Turner, the Assistant Director of Research and Training at the Alabama International Trade Center for Imports and Exports, joins us to discuss Alabama's economic progress and the impact of the Small Business Development Center (SBDC).
We discuss the remarkable growth in job creation, economic investment, and new business formations in Alabama, which can be directly linked to the efforts of the SBDC.
Carolyn shares inspiring success stories of businesses that have used the SBDC's free services to successfully export goods.
We delve into the valuable, cost-free services provided by the SBDC and its transformative role in Alabama's business landscape.
We explore the flourishing industries in Huntsville, Alabama, including aerospace, aviation, missile defense, and genomics.
Carolyn and I have a lively discussion about the economic influence of Bucky's in Alabama and the importance of taking breaks.
We touch on the peculiarities of international business, such as the unnecessary pursuit of perfection, and engage in a playful debate about whether to use hot or cold water when scooping ice cream.
We highlight the work being done by the SBDC teams in Texas and Colorado to support small businesses and entrepreneurs.
Carolyn emphasizes the importance of making use of SBDC resources, particularly for those in Texas, and encourages checking out the San Antonio SBDC.
We end on a note of importance, discussing the significance of finding joy in what you do and taking breaks to maintain passion and enthusiasm.





LINKSShow Notes

Be a Guest


About IC-DISC Alliance

About Alabama International Trade Center




GUEST



Carolyn TurnerAbout Carolyn






TRANSCRIPT


(AI transcript provided as supporting material and may contain errors)



Dave: Hi, my name is David Spray and this is the IC disc show. My guest today is Carolyn Turner from Alabama. Carolyn is the Assistant Director of Research and Training at the Alabama International Trade Center for Imports and Export. I think this might be the longest title of any guest I've ever had. So the Alabama International Trade Center for Importing and Exporting is a division of the Alabama Small Business Development Center, which in turn is funded by the Small Business Administration.


I learned that every state has its own Small Business Development Center focused on increasing the economic impact of small businesses. So we talked about the different ways that the Small Business Development Center in Alabama has had an impact. Carolyn shares some amazing stats as far as job growth, economic investment, new business formations in Alabama that are directly tied to the Small Business Development Center. We also discussed some specific stories of clients of her organization who export and successful export stories and success stories that developed. And then, on a more fun note, we also talked about which Texas retail behemoth has had a bigger impact on her life in Alabama the famous Whataburger or the famous Buckeys and her answer there was pretty interesting. So even if you're not in Alabama, I would recommend that you investigate the Small Business Development Center in your state as well as the exporting arm to take advantage of their free services. This was a great episode and Carolyn has a real passion for helping small business

In today's episode of the IC-DISC show, I chat with Mark Wade, founder and president of Echelon Virtual Family Office. Mark shares insights into virtual family office services, tailored for those with substantial wealth not needing a standalone family office. We also discuss premium-financed life insurance structures and how they serve individuals with several million dollars in assets.


Mark outlines the origins of virtual family offices, tracing back to the Rockefellers. We learn they now cater to those with $10 million or more in assets. Additionally, Mark describes optimizing value when selling a business through pre-sale coordination, marketing strategy, and deploying post-liquidity event assets.


We conclude by examining indexed universal life insurance advantages and investing in index funds, real estate, and small businesses. Overall, this informative episode underscores wealth management options and leveraging life insurance through Mark's insights










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SHOW HIGHLIGHTS



In this episode I chat with Mark Wade, the founder and president of Echelon Virtual Family Office, How He provides services to wealthy individuals who need family office services but do not justify having a standalone family office.
Mark elaborates on the concept of a virtual family office, highlighting that it originated with the Rockefellers. He explains that these services are typically available to those with a net worth of $10 million or more.
We discuss the process of leveraging life insurance through premium financing, with Mark emphasizing that the coordination of various financial professionals and providers is key to unlocking a business's value.
Mark and I delve into the process of pre-sale value creation, marketing to potential buyers, and the deployment of assets after a liquidity event.
We explore the struggle of successful business owners in transitioning from their roles after a liquidity event, and the satisfaction derived from making a difference in people's lives.
We discuss the concept of premium financed life insurance and how Etch-A-Lan uses it strategically.
Mark describes the process of bank financing with collateral and contribution, explaining how clients can sign a personal loan and provide collateral.
We discuss how despite a higher interest rate environment, the strategy of bank financing remains potent due to policy flexibility.
Mark and I examine the benefits of indexed universal life insurance and the advantages of investing in index funds, rental real estate, and small business ownership.
Finally, we celebrate the power of self-confidence and the wisdom gleaned from financial experiences.





LINKSShow Notes

Be a Guest


About IC-DISC Alliance

About Echelon Wealth Strategies




GUEST



Mark WadeAbout Mark






TRANSCRIPT


(AI transcript provided as supporting material and may contain errors)





David: Hi, this is David Spray, and welcome to another episode of the ICDisc Show. My guest today is Mark Wade, the president and founder of Etch-A-Lan Virtual Family Office. They work with families who have a need for family office services but whose net worth does not justify having a standalone family office, so they serve these families and add a lot of value. We had a great interview talking about some of the things they do to add value, and then we also talked about an interesting structure that they are familiar with around leveraging life insurance through premium financing in what he describes as a quote modern structure. I have some familiarity with premium finance life insurance but Mark's approach is really interesting. We also talked about things he wish he had known when he was younger and advice he would have given himself. So this is a great episode for really anybody who has accumulated several million dollars of wealth or more who's interested in learning more about the options available to them to manage their wealth. I hope you enjoy this episode as much as I did.


Good mornin

In today's episode of the IC-DISC Show, we chat with Jerry Vaughn, founder and president of J Gault, a company revolutionizing business financing. Jerry explains how J Gault enables Main Street businesses to reap corporate credit opportunities by leveraging their EINs and NOT having to provide a personal guarantee.


He shares insightful stories of entrepreneurs who, thanks to J Gault, secured lower interest rates and increased funding despite lacking revenue history or business plans. As Jerry describes, J Gault's approach prepares companies for economic uncertainty while ensuring they emerge stronger.


Whether you're an entrepreneur looking to scale up or a small business owner pursuing growth, this discussion with Jerry Vaughn illuminates the transformative potential available by accessing business credit innovatively.










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SHOW HIGHLIGHTS



The episode features a conversation with Jerry Vaughn, the founder and president of J Galt, a company revolutionizing business financing.
Jerry explains how Main Street companies can leverage their Employer Identification Numbers (EINs) to build corporate credit and access competitive rates.
Real-life examples, such as Randy, a contractor from North Carolina, and a real estate investor from Texas, demonstrate how J Galt has helped transform businesses by improving their funding.
Jerry emphasizes that J Galt's approach is not just about securing funding, but also preparing businesses for unpredictable events and ensuring their resilience.
One of the major benefits of J Gault's approach is allowing smaller companies to avoid personal guarantees when accessing corporate credit opportunities.
The company offers a membership program that provides lifetime support, including cash flow management services, business valuation assistance, and exit strategy planning.
There are rules for "fundability" that businesses need to adhere to, such as having a business bank account, a registered phone number, a website, and a corporate email address.
Building company credit on the EIN number and avoiding personal guarantees is a secret to accessing cash flow, according to Jerry.
Jerry mentions that the mission of J Gault goes beyond merely selling—it's about serving and educating entrepreneurs and small business owners.
The episode emphasizes that just because a business is labeled small doesn't mean it has to stay that way. With the right financing strategies, businesses can scale and grow.





LINKSShow Notes

Be a Guest


About IC-DISC Alliance

About J.Galt Finance Suite




GUEST



Jerry VaughnAbout Jerry






TRANSCRIPT


(AI transcript provided as supporting material and may contain errors)



David: Hi, this is David Spray and welcome to another episode of the IC-DISC show. I had a great guest on today, jerry Vaughn, who's the founder and president of J Gault, and for those of you who are big and Rand fans, you may recognize that name. It's inspired by the character John Gault from the book Atlas Shrug by Ayn Rand. So J Gault is a disruptor in the business financing world and basically they allow main street companies privately held, closely held, small to medium sized companies to get access to the same corporate credit opportunities that large public companies have. And one of the biggest benefits of this approach is it allows smaller companies to get rid of the personal guarantee.


I know for many of my clients that's one of their big frustrations is they really don't want to be personally guaranteeing business credit, business debt. Oftentimes it's because their spouse isn't keen on using their house as collateral for a business loan. So it's a great episode. We talk about a variety of different things some stories about customers of theirs. They have a membership program and it's really a great service that I find to be really intriguing. So I hope you enjoy the episode as much as I did. Good morning, jerry. Welcome to the podcast. How are you doing today?


Jerry: